If they work independently, set their schedule, and use their resources, they might qualify as a 1099 contractor, but misclassification risks IRS penalties.Wages for W-2 employees and payments to 1099 contractors are both deductible business expenses, but compliance is key.This post does not create a CPA-Client relationship.

I want to make sure that both of us feel like the deal is fair and equitable for the risks and rewards involved.Any guidance on how to approach these key questions would be greatly appreciated!

Caution:  Personal credit card financing is a huge risk and good luck finding 0 percent interest today.

Are there risks or hidden costs I might not be considering?

. $5400 comes with too much risk and wear and tear on the property. 

Most non-qm loan products will never have a 95% LTV due to the inherent risks associated with these type of loans not being traditionally backed by fannie or freddie (investment banks).

Its money well spent land development is high risk high reward.. depending on Jurisdiction. 

But I see a valid concern here as an investor and if that is a risk you don't want to take I think that is valid.  

In my opinion, Dallas represents more upside with lower risk, and is less expensive than Houston.

A PMC cannot risk a ticket or lawsuit because an owner takes too long to approve an emergency.You do have the right to be frustrated that you weren't informed about the repair as it was being done.Suggest you discuss with your PMC and see what they say.